German Consumer Sentiment To Improve In September: GfK
(RTTNews) - German consumer confidence is set to improve in September driven by income expectations and willingness to save, results of the NIM Consumer Climate powered by GfK showed Thursday.
The forward-looking consumer sentiment index rose to -26.6 in September from -29.4 in August. The score was seen at -29.6.
This noticeable improvement was attributed not only to a slight decline in the willingness to save but also to a significant increase in income expectations, the survey revealed.
The economic expectations index climbed 2.4 points to -3.9 in September. This was the fourth consecutive increase.
NIM Head of Consumer Climate Rolf Burkl said the fourth consecutive rise indicates a slight upward trend. Signals from the economy are also generally positive as gross domestic product expanded 0.3 percent in the second quarter.
Business sentiment improved for three times in a row in July and purchasing managers' survey suggested a slight expansion, Burkl noted.
The income expectations indicator surged 16.2 points to 1.7 points, the highest figure in six months.
By contrast, the willingness to buy was unable to benefit from the rise in income prospects. At -9.8 points, the indicator remained virtually unchanged from the previous month.
The willingness to buy remained at a very low level but the willingness to save is holding at a very high level even in late summer 2026, GfK said. The savings indicator dropped 1.5 points to 15.5 points.
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